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Excel business profit at low cost: Latest neuromarketing insights revealed

It’s been a very disruptive few months for most business owners. The impact varied between a complete closure of business to an income freeze. At the same time, some overhead expenses had to be honored.

Who could foresee or plan for such an event?

It’s a time to accept, reflect, deal with conflicting emotions, adapt, and re-align business for the new world after lockdown.
As a fellow entrepreneur, my heart goes out to business owners who had to navigate this storm.

Now is the time to rebuild. How can a business bounce back profits while keeping costs low?

Three effective ways to consider are:
1) Neuromarketing skills

2) Client financed acquisition strategy: Design your value ladder in such a way that upfront offers pay for marketing expenses. Products higher on your value ladder then drive pure profit.

3) Organic traffic: Content posted (on Facebook, Blogs, LinkedIn, Youtube, etc.) in the correct manner, with an intentional strategy, to your ideal audience while engaging with comments and questions. There is no cost to this type of marketing, except for your time. It’s a wonderful way to build a relationship with potential customers.

I will unpack the first, Neuromarketing, in this article and the other two in subsequent articles

What is neuromarketing?
Neuromarketers can scientifically scan and measure how the human brain responds when presented with types of input:
- What type of pictures excites the neural path waves in the brain?
- Which colors will most likely invite a response?
- How should a client feel when watching an advertisement to make a purchase?

The findings are consistent. This scientific approach is very exciting because it removes the “guesswork” for business owners and marketers. It enables them to maximize the return on their marketing budget because they can design their marketing in line with these findings.

Below are some of the main findings, which entrepreneurs and marketers can use immediately to grow their profits at a low cost:

1) 95% of human decisions are made based on emotions. Only 5% is based on the logical “benefits” of a product. We typically buy because of how the product/service makes us feel. Only thereafter we justify the purchase with logical reasons. 
How do your potential customers feel when engaging with your marketing message, pictures, and videos?

2) The brain thinks in pictures, not words. (Yes, it’s proven even for analytical clients like engineers/accountants/lawyers)
An Indian food recipe, with text only, won’t grab attention online, but if we add a nice picture, it gets many clicks.
3. Top three things the brain prefers is:
- Food
- Certainty
- Sex: For men: Attractive women. For females: Romance.
(Also interesting: Both men and woman prefer to see pictures of businesswoman opposed to businessmen in advertisements)

Even if your business is not directly related to these, how can you incorporate some of these elements into your marketing in a tasteful manner?

4. The brain prefers yellow call to action buttons over other colors
5. People love to see pictures of calm water and human faces with clear eyes create trust in a brand.
6. On average it takes 7 interactions with a brand before a customer feels comfortable to buy for the first time.
Email sequencing works well to provide valuable content to an interested customer over time to build trust.

I hope you found these quick win strategies helpful and can incorporate this in your marketing to achieve a high return on your marketing spend!

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